NIC hit with another ratings downgrade
Courtesy of North Idaho College
COEUR d’ALENE — Moody’s Investor Service has again downgraded North Idaho College’s issuer and revenue bond ratings, an action that affects about $8.4 million in rated debt.
NIC’s rating outlook remains negative.
“The downgrade of NIC’s issuer rating to Baa1 from A3 reflects a prolonged and continuing period of significant governance dysfunction,” Moody’s said in a news release Wednesday. “Over the past two years, public disputes among the board, college leadership and the local community have resulted in turnover in the office of the president and legal counsel, litigation, delayed audits and the real possibility of loss of accreditation in early 2025.”
Become a Subscriber!
You have read all of your free articles this month. Select a plan below to start your subscription today.
Already a subscriber? Login
